Investment and Savings Advice
Discussion
Morning all,
This is all quite new to me as a recent graduate so bear with me. I have been working in full time emplyoment for around a year now and although I have saved money, it is just sitting in my current account earning pretty much nothing.
I would like to start putting money away each month, not saving for anything in particular but it will be nice to have a little something put away. Will be looking to put away around £200/month to begin with and am thinking a split between a cash ISA that has relatively easy access in case the need arises and a long-term investment fund, probably £50 to the former and £150 to the latter. I will be looking to put a couple of thousand into both the ISA/fund as an inital investment.
In terms of cash ISAs, they are relatively simple to get my head around but investment funds are a completely different story - where do I start? Or are there other, more suitable options available to me? If it makes a difference, I don't pay any charges with Standard Life investments apparently due to family connections although I understand the charges tend to be relatively small anyway.
I don't need to worry about pensions at the moment as my place of employment has final salary pension which I am paying into.
Any advice or pointers in the right direction will be much appreciated.
This is all quite new to me as a recent graduate so bear with me. I have been working in full time emplyoment for around a year now and although I have saved money, it is just sitting in my current account earning pretty much nothing.
I would like to start putting money away each month, not saving for anything in particular but it will be nice to have a little something put away. Will be looking to put away around £200/month to begin with and am thinking a split between a cash ISA that has relatively easy access in case the need arises and a long-term investment fund, probably £50 to the former and £150 to the latter. I will be looking to put a couple of thousand into both the ISA/fund as an inital investment.
In terms of cash ISAs, they are relatively simple to get my head around but investment funds are a completely different story - where do I start? Or are there other, more suitable options available to me? If it makes a difference, I don't pay any charges with Standard Life investments apparently due to family connections although I understand the charges tend to be relatively small anyway.
I don't need to worry about pensions at the moment as my place of employment has final salary pension which I am paying into.
Any advice or pointers in the right direction will be much appreciated.
Yes.
Read newc's multiple contributions to this thread: http://www.pistonheads.com/xforums/topic.asp?h=0&a...
I am not an IFA and what you are doing sounds eminently sensible but if you read thoroughly everything newc has written you will be very well informed to make even more sensible decisions!
Read newc's multiple contributions to this thread: http://www.pistonheads.com/xforums/topic.asp?h=0&a...
I am not an IFA and what you are doing sounds eminently sensible but if you read thoroughly everything newc has written you will be very well informed to make even more sensible decisions!
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